Short Interest in Ivanhoe Electric Inc. (NYSEAMERICAN:IE) Rises By 10.9%

Ivanhoe Electric Inc. (NYSEAMERICAN:IE) was the target of a large growth in short interest in September. As of September 15th, there was short interest totalling 8,170,000 shares, a growth of 10.9% from the August 31st total of 7,370,000 shares. Based on an average daily volume of 847,300 shares, the short-interest ratio is presently 9.6 days. Approximately 11.2% of the company’s stock are short sold.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of IE. MQS Management LLC bought a new position in Ivanhoe Electric during the first quarter valued at approximately $100,000. Principal Financial Group Inc. purchased a new stake in shares of Ivanhoe Electric during the second quarter valued at approximately $106,000. ProShare Advisors LLC boosted its stake in shares of Ivanhoe Electric by 10.0% during the first quarter. ProShare Advisors LLC now owns 11,504 shares of the company’s stock valued at $113,000 after purchasing an additional 1,043 shares during the period. Capstone Investment Advisors LLC purchased a new stake in shares of Ivanhoe Electric during the fourth quarter valued at approximately $151,000. Finally, Sei Investments Co. boosted its stake in shares of Ivanhoe Electric by 11.5% during the first quarter. Sei Investments Co. now owns 44,849 shares of the company’s stock valued at $440,000 after purchasing an additional 4,610 shares during the period. 79.05% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Eight Capital raised shares of Ivanhoe Electric to a “strong-buy” rating in a research report on Thursday, September 26th. Scotiabank dropped their target price on shares of Ivanhoe Electric from $14.50 to $14.00 and set a “sector outperform” rating on the stock in a research note on Monday, August 19th.

Ivanhoe Electric Stock Up 1.8 %

Shares of IE traded up $0.15 during mid-day trading on Tuesday, reaching $8.61. 14,423 shares of the stock traded hands, compared to its average volume of 688,566. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.66 and a quick ratio of 3.52. Ivanhoe Electric has a 1 year low of $6.31 and a 1 year high of $12.98. The firm has a market capitalization of $1.04 billion, a P/E ratio of -7.92 and a beta of 0.81.

Ivanhoe Electric (NYSEAMERICAN:IE) last posted its quarterly earnings data on Wednesday, August 7th. The company reported ($0.39) earnings per share for the quarter, missing the consensus estimate of ($0.34) by ($0.05). The company had revenue of $0.54 million during the quarter, compared to the consensus estimate of $1.00 million. Ivanhoe Electric had a negative return on equity of 32.81% and a negative net margin of 4,142.17%. Equities research analysts expect that Ivanhoe Electric will post -1.39 earnings per share for the current fiscal year.

Ivanhoe Electric Company Profile

Ivanhoe Electric Inc explores and develops metals and mineral. The company provides Typhoon data acquisition system, a geophysical system that offers primary signal. It also explores copper and gold. The company was incorporated in 2020 and is headquartered in Tempe, Arizona.